For those considering purchasing a home in 2015, you can break out the champagne even before the clock strikes midnight on New Year’s Eve. Just as the ball drops in Times Square, the likelihood of making your home dreams a reality will go way up.
Why? According to Zillow’s 2015 forecast, inventory of new homes will rise as prices fall, while rents continue to increase. Couple that with the fact that mortgage rates are still low, and you’ll see why Zillow is calling next year “a breakthrough year for first-time buyers.”
It goes without saying that the Madison area is ideal for young, first-timers, but if you’re wondering what neighborhoods are best for your investment, here’s a look at some of the top areas to call home.
1) Middleton, WI
When Middleton was named “Best Place to Live in the U.S.” by Money Magazine in 2007, its 17,000 residents collectively said, “of course!” It combines small town charm with the excitement that come from living just outside the city, and offers great school districts as well. Middleton never ceases to live up to its nickname, the “Good Neighbor City.”
Current median list price: $369,900
2) Waunakee, WI
Waunakee feels small and friendly, like the quintessential American town, but the fact that it’s just north of Madison makes it ideal for young home buyers. Its pleasant people, beautiful homes, and pretty village all scored it a place on CNN’s “Top 100 Places to Live” list in 2009.
Current median list price: $349,900
3) Fall River, WI
With a population of just over 1,712, Fall River maintains its small Midwestern town appeal, and its New England style main street ups the Normal Rockwell factor, making it an ideal choice for buyers looking for the American Dream. While it feels worlds away, only 28 miles separate Fall River from the hustle and bustle of the city.
Current median list price: $179,900
4) Fitchburg, WI
A suburb considered part of the Madison Metropolitan area, Fitchburg prides itself on a booming business climate and “city lifestyle with country living.” There are 22,000 acres of green hillsides, yet plenty of opportunities for shopping, dining, and entertaining the entire family.
Current median list price: $259,900
If you’re looking to buy or sell a home anywhere in the Madison area, or have any questions about the process, please call or email me anytime.